Trade #76 – Recovered

In Trades by JCLeave a Comment

The ASCO annual meeting takes place this weekend. I assumed a lot of stocks would be active today. Not so much..

$TBIO had the volume going into the morning run-up.

Nailed the first pre-market trade.

On the second trade I entered 100 shares to sell instead of 200. That mistake cost me $10. Lost $5 on the trade, and another $5 for selling twice. Back to basics.

The third trade was a rookie mistake. I tried to short at the wrong time. Volume was too strong, I wasn’t paying attention. Crazy cause I just read a good article about shorting too soon!

As I was being squeezed out of the trade, I started to notice some weakness around the $3.70 price range. I went short for the final time. Being a little gun-shy from just losing, I didn’t wanna take any chances. A .35 cent gain worked for me..

My nerves were on edge watching this erratic stock jump all over the place during the first 15 minutes of the trading day. Someday I’ll get used to that. Today, it was stressful.

I keep telling myself that I’ll become accustom to trading volatile stocks. Right now its overwhelming at times, especially when the trade turns on you.

You’re suppose to look for signs of weakness before shorting into The Morning Runner. Signs like putting in lower highs, putting in a double top or dipping below the VWAP. 

That third trade hurt, but I almost fully recovered!

Gains: $115.00
Loss: -$80
Commission Fees: -$50

In the end I lost: $15.00

I guessed 3 out of 4 trades correctly, so at least there’s that!

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